CAVRILO
ActiveSummary
CAVRILO has been active since 1996 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.77M and a net result of €164k. Equity is shrinking by ~17.9% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2027. Its solvency ranks better than 75% of 10359 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.3% (low).
Checked score
Score 2025
67
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability76▲+68
Solvency87▲+49
Growth37=
Track record100
Bankruptcy probability, 12 months
1.3%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €110k at 30 days acceptable
Liquidity ample (current ratio 2.51 against 0.93 in 2023; short-term debt: 36.9% and cash: 5.4% of total assets), and 37.6% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Sector 47
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
62.4%
Return on assets
5.8%
Age of the figures
20 mo
lowers risk · Growing equity
Reported equity is higher than in 2022 and did not fall compared with 2023. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
192021222325
2019 to 2025 · latest year €1.77M
neutral · Latest accounts filed on time
The financial year that closed on 31-01-2025 was due by 31-08-2025 and was filed on 09-07-2025, 53 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
53 d early
2023
42 d late
2022
91 d late
2021
21 d early
2020
53 d early
2019
24 d early
2018
6 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2025, abbreviated schema
Turnover
€16.10M▲ 2.2%
2022 · €15.75M
2019: €13.90M
2020: €11.80M
2021: €11.87M
2022: €15.75M
2019 → 2023
EBIT margin
-3.2%▼ 2.9pp
2022 · -0.3%
2019: 3.9%
2020: -10.1%
2021: 1.4%
2022: -0.3%
2019 → 2023
Net result
€164k
2023 · €-537k
2019: €338k
2020: €-1.08M
2021: €53k
2022: €-246k
2023: €-537k
2019 → 2025
Working capital
€1.58M
2023 · €-283k
2019: €1.02M
2020: €319k
2021: €553k
2022: €-119k
2023: €-283k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232025Trend
Turnover€11.80M-€11.87M▲ 0.6%€15.75M▲ 32.7%€16.10M▲ 2.2%
Equity€1.33M-€1.39M▲ 4.0%€1.14M▼ 17.7%€603k▼ 47.1%€1.77M▲ 193%
Operating result€-1.19M-€171k€-53k€-518k▼ 874%€236k
Net result€-1.08M-€53k€-246k€-537k▼ 118%€164k
Result per fiscal year
Operating resultNet result
The operating result is €236k in 2025, compared with €-518k in 2023. Comparable figures for the intervening years are unavailable.
Balance-sheet composition
2025 in colour, 2023 as the grey bar beneath
Assets €2.83M
Fixed assets
€208k ▼ 78.0%
Current assets
€2.62M ▼ 26.0%
Equity and liabilities €2.83M
Equity
€1.77M ▲ 193%
Debt
€1.07M ▼ 72.6%
Debt's share of the balance-sheet total falls from 86.6% to 37.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€552k▲
2023 · €-124k
Cash flow
€479k▲
2023 · €-143k
Current ratio
2.51▲
2023 · 0.93
Quick ratio
0.38▲
2023 · 0.28
Debt to equity
0.60▼
2023 · 6.44
ROE
9.3%▲
2023 · -89.1%
ROA
5.8%▲
2023 · -12.0%
Interest coverage
25.53▲
2023 · -20.13
Debt ≤ 1 year
€1.04M▼
2023 · €3.83M
Income taxes
€51k▲
2023 · €2k
Staff costs
€2.30M▲
2023 · €1.76M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2023 · 73 lines
Balance sheet
Code20232025
Assets
Total assets20/58€4.49M€2.83M▼
Fixed assets21/28€945k€208k▼
Intangible fixed assets21€535-
Tangible fixed assets22/27€944k€207k▼
Plant, machinery and equipment23€154k€86k▼
Furniture and vehicles24€52k€16k▼
Other tangible fixed assets26€738k€106k▼
Financial fixed assets28€1k€1k=
Other financial fixed assets284/8€1k-
Amounts receivable and cash guarantees285/8€1k-
Current assets29/58€3.54M€2.62M▼
Amounts receivable after more than one year29€5k€2k▼
Other amounts receivable291€5k€2k▼
Stocks and contracts in progress3€2.47M€2.22M▼
Stocks30/36€2.47M€2.22M▼
Goods purchased for resale34€2.47M-
Amounts receivable within one year40/41€958k€247k▼
Trade receivables40€432€5k▲
Other amounts receivable41€957k€242k▼
Cash at bank and in hand54/58€99k€153k▲
Deferred charges and accrued income490/1€10k-
Equity and liabilities
Total equity and liabilities10/49€4.49M€2.83M▼
Equity10/15€603k€1.77M▲
Contributions10/11€62k€1.06M▲
Capital10€62k€1.06M▲
Issued capital100€62k€1.06M▲
Reserves13€282k€290k▲
Non-distributable reserves130/1€6k€14k▲
Legal reserve130€6k€14k▲
Tax-exempt reserves132€56k€56k=
Distributable reserves133€220k€220k=
Profit (loss) carried forward14€259k€415k▲
Amounts payable17/49€3.89M€1.07M▼
Amounts payable within one year42/48€3.83M€1.04M▼
Trade debts44€3.06M€76k▼
Suppliers440/4€3.06M€76k▼
Taxes, remuneration and social security45€708k€857k▲
Taxes450/3€350k€581k▲
Remuneration and social security454/9€358k€276k▼
Other amounts payable47/48€61k€111k▲
Accrued charges and deferred income492/3€59k€21k▼
Income statement
Code20232025
Operating income70/76A€16.17M-
Turnover70€16.10M-
Other operating income74€70k-
Non-recurring operating income76A-€109k
Operating charges60/66A€16.69M-
Goods for resale, raw materials and consumables60€8.45M-
Purchases600/8€8.67M-
Change in stocks: decrease (increase)609€-222k-
Services and other goods61€6.11M-
Remuneration, social security and pensions62€1.76M€2.30M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€394k€316k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-139k€-20k▲
Other operating charges640/8€117k€144k▲
Gross operating margin9900-€2.98M
Operating profit (loss)9901€-518k€236k▲
Financial income75/76B€46-
Recurring financial income75€46-
Other financial income752/9€46-
Financial charges65/66B€17k€22k▲
Recurring financial charges65€17k€22k▲
Debt charges650€6k-
Other financial charges652/9€11k-
Profit (loss) for the period before taxes9903€-535k€214k▲
Income taxes67/77€2k€51k▲
Taxes670/3€2k-
Profit (loss) for the period9904€-537k€164k▲
Profit (loss) for the period to be appropriated9905€-537k€164k▲
Appropriation of the result
Profit (loss) to be appropriated9906€259k€423k▲
Profit (loss) brought forward from the previous period14P€797k€259k▼
Transfer to equity691/2-€8k
To the legal reserve6920-€8k
Social balance
Average headcount (FTE)908741.937.5▼
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2026
21-09
State Gazette act
Reappointments: Jo Willemyns, Kris Castelein and Stefaan VandammeResignations: Stefan Goethaert BV (director) and Stefaan Vandamme (director) · Appointments: Stefan Goethaert BV, Peter Vanbellingen and Michaël Hamelryck · Permanent representatives: Stefan Goethaert and Geoffrey Baudts22 facts ▸
State Gazette act
Reappointments: Jo Willemyns, Kris Castelein and Stefaan Vandamme
Resignations: Stefan Goethaert BV (director) and Stefaan Vandamme (director) · Appointments: Stefan Goethaert BV, Peter Vanbellingen and Michaël Hamelryck · Permanent representatives: Stefan Goethaert and Geoffrey Baudts22 facts ▸
- General meeting, 09-06-2026
- Director reappointment, Jo Willemyns (director)
- Director reappointment, Kris Castelein (director)
- Director reappointment, Stefaan Vandamme (director)
- Director resignation, Stefan Goethaert BV (director)
- Director appointment, Stefan Goethaert BV (director)
- Permanent representative, Stefan Goethaert (permanent representative)
- Director appointment, Peter Vanbellingen (director)
- Board meeting, 23-07-2026
- Other statement, 00u00, einde aan delegatie van het dagelijks bestuur
- Other statement, 00u00, dagelijks bestuur van de Vennootschap, met inbegrip van de vertegenwoordiging van de Vennootschap wat dat bestuur aangaat
- Permanent representative, Geoffrey Baudts (permanent representative)
- +10 further facts in this act
2025
09-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
31-01
Financial
Back to profitnet €164k
Net result €164k after 2 loss-making years.
31-01
Financial
Liquidity triplescurrent ratio 2.51
Current ratio from 0.93 to 2.51; short-term debt falls from €3.83M to €1.04M.
31-01
Financial
Equity above €1MEq €1.77M ▲193%
Equity rises from €603k to €1.77M.
2024
11-04
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 42 days late
2023
30-05
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 91 days late
2022
07-02
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-07
Financial
Back to profitnet €53k
Net result €53k after one loss-making year.
06-01
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-07
Financial
Weakest financial yearnet €-1.08M ▼420%
Net result drops to €-1.08M, the lowest in the series; recovery starts the following year.
05-02
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
Show earlier events
2019
06-03
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 6 days late
2018
28-02
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
27-02
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
22-02
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
under verification, no change since 2026
This board is reconstructed from a single act (26117873). A Gazette act generally publishes only CHANGES, not a full roll call, so directors unchanged since then may be missing here. The KBO register holds the complete list of function holders.
Michael Hamelryck
CurrentDirector · since 01-08-2026
Jo Willemyns
CurrentDirector · since 09-06-2026
Kris Castelein
CurrentDirector · since 09-06-2026
Stefan Goethaert BV
CurrentDirector · since 09-06-2026 · Legal entity · perm. rep.: Stefan Goethaert
VANBELLINGEN Peter
CurrentDirector · since 09-06-2026
01-08-2026
Michael Hamelryck: Appointed as Director
01-08-2026
Stefaan Vandamme: Reappointed as Director
09-06-2026
Jo Willemyns: Mandate renewed as Director
09-06-2026
Kris Castelein: Mandate renewed as Director
09-06-2026
Stefan Goethaert BV: Reappointed as Director
Location & real-estate footprint
Registered office, Merchtem · 8 establishment units since 1996
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Brusselsesteenweg 1851785 MerchtemGround area
7.7 ha
Building footprint
2.3 ha
Volume, LiDAR
71,091 m³
9 parcels, Flanders · tallest building 12.8 m, ±3 floors. Linked by address, not a title deed.
8 establishment units
ZEB Roeselare
since 19962.078.736.427
ZEB Waregem
since 19982.078.736.526
ZEB Menen
since 20072.160.061.326
ZEB Ieper
since 20072.166.750.366
ZEB Wevelgem
since 20112.197.912.805
ZEB Kuurne
since 20122.213.599.683
Show 2 more locations
ZEB Deinze
since 20142.229.069.601
ZEB Tielt
since 20142.233.591.977
9 parcels
Flanders
9
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34035B0074/00K003 | Flanders | 4.3 ha | 1 · 1.0 ha | - |
| 37015A0957/00E000 | Flanders | 2.0 ha | 1 · 7,012 m² | 11.5 m · 2 fl. |
| 23602I0093/00H003 | Flanders | 4,312 m² | 1 · 1,588 m² | 12.8 m · 3 fl. |
| 36504D0770/00P000 | Flanders | 2,705 m² | 1 · 1,243 m² | 7.5 m · 2 fl. |
| 34041C0780/00X003 | Flanders | 2,560 m² | 1 · 980 m² | 5.9 m · 2 fl. |
| 34023B0950/00H003 | Flanders | 2,447 m² | 1 · 500 m² | 6.5 m · 2 fl. |
| 33011D0184/00D002 | Flanders | 1,055 m² | 1 · 1,081 m² | 7.3 m · 2 fl. |
| 34372A0312/00Y000 | Flanders | 655 m² | - | - |
| 44011A0913/00X002 | Flanders | 167 m² | 1 · 93 m² | 12.8 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 8
9 of 9 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Articles of association
Other provisions of the articles (2)
- Other statement: mandaat dagelijks bestuurder, alle machten van en over de maatschappelijke handtekening voor alle bewerkingen van het dagelijks bestuur
- Other statement: alle verrichtingen bij de bedrijven die openbare nutsvoorzieningen en openbare diensten aanbieden, zoals energieleveranciers, post, telefoon, water en andere, v…
Structure & network
Connections & network
52 connected companiesLinked via shared directors
Show 48 more companies with a shared director
via VANBELLINGEN Peter and Kris Castelein · Director
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via Kris Castelein · Director
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via Kris Castelein · Director
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via Kris Castelein · Director
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via Michael Hamelryck · Director
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via Michael Hamelryck · Director
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via Michael Hamelryck · Director
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via Michael Hamelryck · Non-statutory director
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via Michael Hamelryck · Non-statutory director
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via Michael Hamelryck and Kris Castelein · Director
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via VANBELLINGEN Peter and Kris Castelein · Director
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via Kris Castelein · Director
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via VANBELLINGEN Peter and Kris Castelein · Director
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via Kris Castelein · Director
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via Kris Castelein · Director
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via Michael Hamelryck · Non-statutory director
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via Kris Castelein · Director
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via Kris Castelein · Director
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via VANBELLINGEN Peter and Kris Castelein · Director
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via Michael Hamelryck · Non-statutory director
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via Michael Hamelryck · Non-statutory director
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via Kris Castelein · Director
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via Kris Castelein · Non-statutory director
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via Kris Castelein · Non-statutory director
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via Kris Castelein · Non-statutory director
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via Michael Hamelryck · Non-statutory director
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via Kris Castelein · Director
former→
via Kris Castelein · Director
former→
via Kris Castelein · Director
former→
via Kris Castelein
former→
Ownership & control
1 parent companyControl over this companyparent company per the LEI register1
Merchtem
controls
CAVRILOBE 0458.979.551
Recognitions · licences · registrations
Food safety, FASFC
3 sitesDeinze2.229.069.601
Ieper2.166.750.366
Tielt2.233.591.977
Legal Entity Identifier
549300F4ONOK667H0B39
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MILANO HERENMODE
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Elbi
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Sint-Gillis (bij-Brussel) · Eq €1,621,051
Thalie
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Of 459 companies in sector 47712 we hold annual accounts for 269. 106 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded10-10-1996
Fiscal year end31-01
Activities, NACEBEL 2025
47712Retail trade
47716Retail sale of clothing and accessories for women, men, children and babies (general range)
47711Retail sale of women's outerwear
Sources
Crossroads Bank for EnterprisesNational Bank · 28 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.